Mindspace Business Parks REIT has formed a strategic partnership with Princeton Digital Group (PDG), a global leader in data center operations, to develop PDG’s largest data center campus in India at Mindspace Airoli West. Under this agreement, Mindspace REIT will construct three additional state-of-the-art, custom-built data centers, adding 1 million square feet to its portfolio. The REIT has already completed two data centers for PDG, totaling approximately 0.63 million square feet. Once finished, the Business Park will encompass five advanced data center buildings, bringing the total data center footprint within the Mindspace REIT portfolio to about 1.65 million square feet. This significant development will cover roughly 15 acres and will be part of the larger 50-acre Mindspace Airoli West campus ecosystem.
Commenting on the partnership, Mr. Ramesh Nair, CEO of Mindspace REIT, stated, “We are excited to collaborate with PDG in their expansion into India. This agreement underscores our commitment to diversifying our portfolio and engaging with high-growth sectors like data centers. Incorporating data centers into our portfolio makes strategic sense, as they provide stable, long-term revenue streams, future-proof our assets, and diversify our income sources.”
Mindspace REIT is dedicated to sustainability and will offer PDG a comprehensive range of turnkey services, including power infrastructure designed to meet sustainability objectives. These initiatives align with the REIT’s mission to support digital transformation while ensuring environmental responsibility.
Navi Mumbai has emerged as a leading hub for cloud infrastructure, thanks to its strategic proximity to submarine cable landing stations, reliable power supply with zero outages, availability of renewable energy, and strong infrastructure. The micro-market is also well-equipped to support the growth of AI technologies, making it an ideal location for AI-enabled data center campuses.